PAN, Aadhaar card not mandatory for jewellery purchase above Rs 50,000

Posted on:07 Oct 2017 10:02:14
PAN, Aadhaar card not mandatory for jewellery purchase above Rs 50,000
07 October 2017 Current Affairs: The Finance Ministry announced that PAN (Permanent Account Number) card and Aadhaar card details will not be mandatory for jewellery purchases above Rs. 50,000.

Any entity dealing in gems, jewellery that has a turnover of Rs. 2 crore or more in a financial year will not be covered under PMLA (Prevention of Money Laundering Act, 2002)

This decision was taken at the 22nd GST Council meeting.
The Finance Ministry announced that PAN (Permanent Account Number) card and Aadhaar card details will not be mandatory for jewellery purchases above Rs. 50,000.

Any entity dealing in gems, jewellery that has a turnover of Rs. 2 crore or more in a financial year will not be covered under PMLA (Prevention of Money Laundering Act, 2002)

This decision was taken at the 22nd GST Council meeting.

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